How Competitive is
Your Pay Scale?
Employers need to know how their pay scale compares with current market rates.
Lacking this insight, it is only a matter of time before a recruiter or a competitor’s HR manager calls your key employees, tells them they’re underpaid, and whisks them away with a better offer.
Of course, there are tools out there — Payscale, Salary, and Glassdoor — that provide salary ranges for most positions, by industry and by location.
The problem with these platforms is their data can quickly become outdated: in a competitive talent marketplace, market rates change fast.
How can you get accurate data?
Say, you want to know what a VP of Sales in SaaS should make.
Ask your colleagues, clients, vendors, etc. This should give you current data for at least a few companies right there. A similar pattern should emerge in terms of “base salary range” and “total compensation after commissions, bonuses & equity”.
But do you know to whom you should really ask the question? A recruiter. His job is to talk on the phone all day with many different companies.
A recruiter has a pulse on the most current data there is — live as it’s happening.
Do you need an accurate insight in your compensation scale? Give us a call. We’ll give you a rapid answer, on the house. If you’d like a formal market analysis and report, ask us too.